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Archive
- 4/26/2024 -
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Stryker Corp. (SYK) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Stryker Corp. (SYK). During the week, the SYK gained 10.18 points, or 3.13%, and closed at 335.61 on Friday, April 26, 2024. It was the best weekly gain since February 2, 2024. Weekly volume was 11% above average.
SYK is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See SYK long-term trend chart]
A long-term uptrend had started on March 20, 2009 at 30.82 and reached 361.41 on March 11, 2024. SYK gained -330.59 points, or -1072.65%, in 781 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (321.74). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See SYK medium-term trend chart]
A medium-term downtrend had started on March 11, 2024 at 361.41 and reached 323.75 on April 22, 2024. SYK lost 37.66 points, or 10.42%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 318.74 and resistance is at 356.56. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See SYK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See SYK short-term trend chart]
A short-term uptrend had started on April 22, 2024 at 323.75 and reached 342.60 on April 24, 2024. SYK gained -18.85 points, or -5.82%, in 2 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See SYK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since February 23, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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